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Stockholders' Equity | 3 Months Ended
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Dec. 31, 2024
Stockholders' Equity Note [Abstract] |
Stockholders' Equity | 10. Stockholders’ Equity The changes in stockholders’ equity for the prior year comparable period are as follows:
|  |  |  |  | Additional |  |  |  |  |  | Accumulated Other |  |  |  |  |
| Common Stock |  | Paid-in |  | Treasury Stock |  | Comprehensive |  | Retained |  |  |
| Shares |  | Amount |  | Capital |  | Shares |  | Amount |  | Loss |  | Earnings |  | Total |
Balance at September 30, 2023 |  | 36,142,345 |  | $ | 36 |  | $ | 265,945 |  |  | (5,433,045 | ) | $ | (84,031 | ) | $ | (10,458 | ) | $ | (9,958 | ) | $ | 161,533 |
Net income |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,907 |  |  | 1,907 |
Exercise of stock options, grants of restricted stock awards, and vesting of restricted stock units |  | 59,471 |  |  | — |  |  | 127 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 127 |
Taxes paid associated with net settlement of stock compensation awards |  | (12,058 | ) |  | — |  |  | (224 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | (224 | )
Common stock repurchased |  | — |  |  | — |  |  | — |  |  | (68,692 | ) |  | (1,171 | ) |  | — |  |  | — |  |  | (1,171 | )
Stock compensation expense |  | — |  |  | — |  |  | 2,249 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,249 |
Foreign currency translation and other |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 958 |  |  | — |  |  | 958 |
Balance at December 31, 2023 |  | 36,189,758 |  | $ | 36 |  | $ | 268,096 |  |  | (5,501,737 | ) | $ | (85,202 | ) | $ | (9,500 | ) | $ | (8,051 | ) | $ | 165,379 |
Stock Compensation Incentive Plans The Company maintains the Third Amended and Restated 2006 Omnibus Long-Term Incentive Plan (as amended, the LTIP) under which stock options, restricted stock units (RSUs), restricted stock awards (RSAs), and cash-settled stock appreciation rights (SARs) have been issued, and a private placement issuance related to the Company's acquisition of Bid4Assets. During the year ended September 30, 2024, the Company's shareholders approved an amendment to the LTIP to increase the number of shares of common stock from 20,300,000 to 22,800,000, reserved for future issuance of awards under the LTIP. Vesting of RSUs and grants of RSAs count as 1.5x shares against the plan reserves. As of December 31, 2024, 1,347,204 shares of common stock remained available for use. Stock Compensation Expense The table below presents the components of share-based compensation expense (in thousands):
|  | Three Months Ended December 31, |
|  | 2024 |  |  | 2023 |
Equity-classified awards: |  |  |  |  |  |
Stock options |  | $ | 659 |  |  | $ | 500 |
RSUs & RSAs |  |  | 2,772 |  |  |  | 1,749 |
Total Equity-classified award |  |  | 3,431 |  |  |  | 2,249 |
Liability-classified awards: |  |  |  |  |  |
SARs |  |  | — |  |  |  | — |
Total stock compensation expense: |  | $ | 3,431 |  |  | $ | 2,249 |
The table below presents the components of share-based compensation expense by line-item within our Condensed Consolidated Statements of Operations (in thousands):
|  | Three Months Ended December 31, |
|  | 2024 |  |  | 2023 |
Stock-compensation expense by function |  |  |  |  |  |
Technology and operations |  | $ | 551 |  |  | $ | 330 |
Sales and marketing |  |  | 1,021 |  |  |  | 638 |
General and administrative |  |  | 1,859 |  |  |  | 1,281 |
Total stock compensation expense: |  | $ | 3,431 |  |  | $ | 2,249 |
Stock Options and RSUs & RSAs The following table presents stock option and RSUs & RSAs grant activity:
﻿ |  | Three Months Ended December 31, 2024 |
Stock Options granted: |  | ﻿ |
Options containing only service conditions: |  |  | 125,000 |
Weighted average exercise price |  | $ | 22.55 |
Weighted average grant date fair value |  | $ | 10.86 |
﻿ |  | ﻿ |
Options containing performance conditions: |  |  | 125,000 |
Weighted average exercise price |  | $ | 22.55 |
Weighted average grant date fair value |  | $ | 10.86 |
﻿ |  | ﻿ |
RSUs & RSAs granted: |  | ﻿ |
RSUs & RSAs containing only service conditions: |  |  | 304,519 |
Weighted average grant date fair value |  | $ | 23.55 |
﻿ |  | ﻿ |
RSUs & RSAs containing performance conditions: |  |  | 304,521 |
Weighted average grant date fair value |  | $ | 23.55 |
The stock options and RSUs & RSAs containing only service conditions will vest over a four-year service period. The stock options and RSUs & RSAs containing performance conditions will vest upon the achievement of specified financial targets of the Company, a segment, or a division of a segment. Vesting is measured on the first day of each fiscal quarter over the three-year terms of the awards, starting with the first fiscal quarter after the first anniversary of the grant date. The range of assumptions used to determine the fair value of stock options using the Black-Scholes option-pricing model during the three months ended December 31, 2024, were as follows:
|  | Three Months Ended |
|  | December 31, 2024 |
Dividend yield |  |  | — |
Expected volatility |  | 56.09% - 57.96% |
Risk-free interest rate |  | 4.10% - 4.10% |
Expected term |  | 4.4 - 5.0 years |
Share Repurchase Program From time to time, we may be authorized to repurchase issued and outstanding shares of our common stock under a share repurchase program approved by our Board of Directors. Share repurchases may be made through open market purchases, privately negotiated transactions or otherwise, at times and in such amounts as management deems appropriate. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements and other market conditions. The repurchase program may be discontinued or suspended at any time and will be funded using our available cash. As of September 30, 2024, the Company had $7.6 million of remaining authorization to repurchase shares through December 31, 2025. On December 9, 2024, the Company's Board of Directors authorized the repurchase of up to an additional $10.0 million of the Company's outstanding shares of common stock through December 31, 2026. The Company made no repurchases during the three months ended December 31, 2024. As of December 31, 2024, the Company had $17.6 million of remaining authorization to repurchase shares through December 31, 2026. Other Share Repurchases Separate from the share repurchase program, our stock incentive plans allow for participants to exercise stock options by surrendering shares of common stock equivalent in value to the exercise price due. Any shares surrendered to the Company in this manner are not available for future grant. During the three months ended December 31, 2024, participants surrendered 582 shares of common stock in connection with the exercise of stock options. No shares were surrendered by participants in connection with the exercise of stock options during the three months ended December 31, 2023.

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- Definition The entire disclosure for shareholders' equity and share-based payment arrangement. Includes, but is not limited to, disclosure of policy and terms of share-based payment arrangement, deferred compensation arrangement, and employee stock purchase plan (ESPP). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/505/tableOfContent Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/718/tableOfContent + Details
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